Explanation
BACKGROUND: This legislation authorizes the City Auditor to allow the Division of Power and Water's (Power) capital bonds fund to reimburse the operating fund, for material costs incurred for the Whittier Peninsula Audubon Center Project. Due to the extensive lead time necessary for ordering electrical supplies, ordering materials well in advance of the project was necessary for timely project initiation.
FISCAL IMPACT: A transfer of funds within the Voted Street Lighting and Electricity Distribution Improvements Fund is necessary, as well as an amendment to the 2008 Capital Improvements Budget.
Title
To amend the 2008 Capital Improvements Budget; to authorize the City Auditor to transfer funds within the Voted Street Lighting and Electricity Distribution Improvements Fund; and to authorize the City Auditor to allow the Division of Power and Water's capital bond fund to reimburse the operating fund in the amount of $96,302.50 for material costs incurred in relation to the Whittier Peninsula and Audubon Center Project. ($96,302.50).
Body
WHEREAS, significant lead time was required for ordering and receiving electrical supplies for the Division of Power and Water's (Power) Whittier Peninsula and Audubon Center Project; and a construction contract for the project had not yet been awarded, purchase of the required materials was made from the Operating fund; and
WHEREAS, it is necessary for this Council to authorize the City Auditor to transfer funds within the Voted Street Lighting and Electricity Distribution Improvements Fund; and
WHEREAS, it is necessary to authorize an amendment to the 2008 Capital Improvements Budget for purposes of providing sufficient funding and expenditure authority for the aforementioned project reimbursement; and
WHEREAS, the aforementioned expenditure has occured, and it is necessary for this City Council to authorize the Division of Power and Water (Power) to reimburse the operations fund from the capital bonds funds for material costs incurred for the Whittier Peninsula and Audubon Center Project; at the earliest practicable date; now, therefore,
BE IT ORDAINED BY THE COUNCIL OF THE CITY OF COLUMBUS:
SECTION 1. That the City Auditor is hereby authorized and directed to transfer $96,302.50 within the Voted Street Lighting and Electricity Distribution Improvement Fund, Fund No. 553, Object Level Three 6621, Division of Power and Water, Division 60-07, as follows:
FROM:
Project No. | Project Name | OCA Code | change
670608 | Distribution System Improvements | 670608 | -$96,302.50
TO:
Project No. | Project Name | OCA Code | change
670798 | Whittier Peninsula | 553798 | +$96,302.50
SECTION 2. That the 2008 Capital Improvements Budget ORD 0690-2008 is hereby amended as follows:
Project No. | Project Name | Current Authority | Revised Authority | change
670608-100000 | Distribution System Improvements | $1,960,667 | $1,864,364 | -$96,303
670798-100000 | Whittier Peninsula | $250,000 | $346,303 | +$96,303
SECTION 3. That the City Auditor's Office hereby authorizes the reimbursement (expenditure) up to an amount not to exceed $96,302.50, or so much thereof as may be needed, be and is hereby authorized from the Division of Power and Water's capital bonds fund to the operating fund, via internal bill, for material costs incurred for the Whittier Peninsula and Audubon Center Project, Division No. 60-07, Voted Street Lighting and Electricity Distribution Improvements Fund, Fund No. 553, Project No. 670798, OCA Code 553798, Object Level Three 6621.
SECTION 4. That the City Auditor is hereby authorized and directed to transfer any unencumbered balance in the project account to the unallocated balance within the same fund upon receipt of certification by the Director of the Department administering said project that the project has been completed and the monies are no longer required for said project; except that no transfer shall be made from a project account by monies from more than one source.
SECTION 5. That the City Auditor is authorized to establish proper project accounting numbers as appropriate.
SECTION 6. That the City Auditor is authorized to make any accounting changes to revise the funding source for all contracts or contract modifications associated with this Ordinance.
SECTION 7. That this Ordinance shall take effect and be in force from and after the earliest period allowed by law.